Morning Coffee Pre-Market Wall Street News193 views 2012-12-04 08:28
Qualcomm to Invest in Sharp. Reports say that Qualcomm (QCOM) will invest into troubled Sharp (SHCAY). Qualcomm will invest $120 million with an initial ¥4.93B ($59.9M) by the end of the year. The initial investment represents a 2.6% stake in Sharp, while the remainder will be invested by March. The companies will jointly develop new displays based on Sharp's IGZO technology. QCOM Pre-market: 63.30 -0.07 (-0.11%)
Public Storage (PSA): Cantor Fitzgerald raised their rating from Hold to Buy and raised their target price from $143.50 to $160.00.
Whole Foods Market (WFM): Northcoast raised their rating from Neutral to Buy. Pre-market: 91.90 -0.51 (-0.56%)
Smithfield Foods (SFD): BB&T raised their rating Hold to Buy and placed a target price of $28.00 on the company.
Cott (COT): Stifel Nicolaus lowered their rating from Buy to Hold.
Caribou Coffee (CBOU): Longbow initiated coverage with a Buy rating and target price of $17.00.
Royal Bank of Canada (RY): Citigroup initiated coverage with a Buy rating and target price of $67.00.
Flowserve (FLS): KeyBanc Capital Markets initiated coverage with a Buy rating and target price of $160.00.
Corning (GLW): Bernstein initiated coverage with an Outperform rating and target price of $15.20. Pre-market: 12.23 +0.08 (0.66%)
Tree House Foods (THS): Longbow initiated coverage with a Buy rating and target price of $63.00.
Pep Boys (PBY): Reported EPS of -$0.13 missing estimates by -$0.28. Pre-market: 9.92 -0.76 (-7.12%)
AutoZone (AZO): Reported EPS of $5.41 beating estimates by +0.06. Pre-market: 373.84 -4.17 (-1.10%)
Big Lots (BIG): Reported EPS of -$0.10 beating estimates by +0.15. Pre-market: 30.20 +2.16 (7.70%)
Toll Brothers (TOL): Reported EPS of $0.35 beating estimates by +0.10. Pre-market: 33.75 +1.32 (4.07%)
Vail Resorts (MTN): Reported EPS of -$1.70 missing estimates by -$0.11. Pre-market: 51.75 -4.09 (-7.32%)
Futures at 7:28: Dow . S&P . Nasdaq . Crude to $1702.60.
Europe: London +0.02. Paris . Frankfurt .
Asia: Japan to
9432. Hong Kong to
21800. China to 19348.